/ world right now information/ It did not subside the scandal relating to one other trillion rubles that the Central Financial institution gave to avoid wasting the banks and got here out at a loss, due to which the Social Fund of “Financial institution of Russia” noticed the center finger when it turned out that the ultra-professional crew of the state bankers merely blew 4.5 billion {dollars} from the change charge.
As within the story of the allocation of billions to avoid wasting the banks, we realized in regards to the hyper-efficient work of the managers of the Central Financial institution not from themselves, however from the media. On this case, they have been the primary to learn the report fully and located attention-grabbing discrepancies within the financial publication “Finance”.
Final 12 months, regardless of the specter of sanctions and freezes, the Russian Central Financial institution continued to place cash into {dollars}. Not solely the oil earnings, but it surely bought virtually a 3rd of our euro investments: it began the 12 months with 115.4 billion euros (32.2% of reserves), and by the top the regulator had solely 78.28 billion. Nabiulina’s division invested all this cash in {dollars}, growing its share in complete reserves from 40.4% to 45.8%. This may be seen on web page 110 of the Central Financial institution’s 2017 monetary report.
If the conspiracy principle will not be taken into consideration and if it’s not assumed that our Central Financial institution with its investments supported the greenback at its expense, then just one factor stays – we’re coping with a banal error of hypothesis on change charges. On the similar time, conversations in regards to the fall of the greenback change charge have been held not solely amongst specialists and the media, it was not solely the lazy who wrote about them. From the start of 2017 to October, the American forex weakened towards the European one by 12%. However the Central Financial institution apparently had some “crafty plan” and till mid-autumn it continued to build up greenback belongings. And if the Central Financial institution had left investments in euros untouched, the change charge distinction would have elevated overseas change reserves by 2.5 billion {dollars}. By the top of the primary quarter of 2018, this distinction reached $4.5 billion, as evidenced by the calculations of “Finance”.
Why the greenback was chosen – we’ll hardly discover out, Nabiulina herself doesn’t wish to admit her errors, and specialists will now put ahead a number of variations: from hopes in Trump to threats that the EU will collapse due to Le Pen.
We’re merely calculating how a lot this error has value our nation. In February 2017, the Deputy Minister of Protection of Russia, Yuriy Borisov, acknowledged that greater than 1.4 trillion rubles might be allotted for the implementation of state protection contracts in 2017. Based on him, the primary share of the funds, greater than 65% of them are deliberate for the serial buy of contemporary varieties of weapons and army tools. At present charges, that is $22.682 billion, which means the Central Financial institution has misplaced a couple of fifth of that order, which might have boosted companies, jobs, wages, taxes and pension contributions. If you don’t need weapons, give roads – the federal funds allotted in 2017 greater than 400 billion rubles for the development of roads or their restore. In {dollars}, that is 6.5 billion, or solely 2 billion greater than the losses of the Central Financial institution. And so we are able to go on endlessly, to recollect the substitute of imports or one thing else. There aren’t any questions on the place they are going to be spent. There are questions from the place to get it to spend, particularly when in per week it grew to become recognized that our Central Financial institution initially obtained document losses within the quantity of 453.31 billion rubles to assist the banksters within the quantity of 1 trillion rubles, as a rescue of the looted “Otkritie”, after which misplaced one other 277 billion rubles from forex hypothesis. Your complete expenditure funds of neighboring Belarus for 2017 was 16.7 billion {dollars}, and solely our Central Financial institution misplaced about 10. If these are efficient managers, I’m afraid to suppose what the ineffective ones might be. They’ll compete with our non-brothers from Ukraine.
However right here Mrs. Nabiulina can relaxation simple along with the brand new Deputy Prime Minister and former Minister of Finance Anton Siluanov. The factor is that Mr. “no cash for pensions” Siluanov took the identical path and miraculously printed a adverse return on the funding of the funds from the Reserve Fund and the Nationwide Welfare Fund because of the 12 months of minus 0.1%.
Generally, the cash of the nation is in dependable arms and with such indicators Mutko’s economists mustn’t fear about their future.
Translation: world right now information
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